Groupe la Francaise Raises Stake in Pinterest, Inc. $PINS

Key Points

• Groupe la Française increased its Pinterest stake by 16.9% in the first quarter, owning 481,586 shares valued at approximately $8.8 million. Institutional investors and hedge funds collectively own 88.81% of Pinterest.
• Analyst sentiment is mixed, with 17 Buy ratings and 19 Holds; the consensus rating is Hold and the average price target is $27.69.
• Pinterest exceeded quarterly expectations, reporting $0.27 in EPS versus a $0.22 estimate and $1.01 billion in revenue, up 17.8% year over year. Insiders have sold 370,720 shares worth about $7.9 million over the past 90 days.

Groupe la Francaise raised its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 16.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 481,586 shares of the company's stock after acquiring an additional 69,562 shares during the quarter. Groupe la Francaise owned approximately 0.09% of Pinterest worth $8,817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Pinterest during the 4th quarter worth $357,945,000. State Street Corp grew its stake in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company's stock worth $556,432,000 after purchasing an additional 7,412,213 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company's stock valued at $694,082,000 after buying an additional 6,258,628 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Pinterest by 271.1% in the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company's stock valued at $109,831,000 after buying an additional 4,375,000 shares during the last quarter. Finally, Davis Selected Advisers raised its stake in Pinterest by 49.5% in the fourth quarter. Davis Selected Advisers now owns 11,801,983 shares of the company's stock valued at $305,554,000 after buying an additional 3,909,926 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PINS. DA Davidson started coverage on Pinterest in a report on Wednesday, July 8th. They set a "buy" rating and a $26.00 price target for the company. Piper Sandler reiterated a "neutral" rating and issued a $26.00 price objective (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Wells Fargo & Company raised their target price on Pinterest from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. BMO Capital Markets restated an "outperform" rating and set a $30.00 target price on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Barclays upped their price target on Pinterest from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. Seventeen investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $27.69.

Pinterest Stock Performance

NYSE PINS opened at $24.48 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The company has a market capitalization of $13.71 billion, a PE ratio of 51.00, a P/E/G ratio of 1.39 and a beta of 0.89. The company has a fifty day moving average of $21.61 and a two-hundred day moving average of $20.55.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. As a group, analysts expect that Pinterest, Inc. will post 0.65 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the sale, the insider owned 724,673 shares of the company's stock, valued at approximately $14,826,809.58. This represents a 3.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 370,720 shares of company stock worth $7,892,627. 8.09% of the stock is currently owned by corporate insiders.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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